Customer Reviews

Banking on Privilege: The Politics of Spanish Financial Reform

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This amazing book focuses on the relationship between the economic power of Spain's largest financial institutions and the political power of successive Spanish governments. It gives an excellent view of how economic power manages to control the three legal powers of the State in modern European democracies. Definitively a must read!!

This books is excellent if you want to understand what really happened during the Spanish transition to democracy. It shows how large Spanish banks came to dominate the Spanish economy and how they retained their power even as the political system changed dramatically (first with the civil war, then with the transition of the 70s). It is the only account that I have read about Spain that delves into the real centers of power during that period. My only qualm is that the writing is a bit academic, and some of it requires fairly good knowledge of economic theory.

This book is a great example of social-science research on the politics of financial reform. Although focused on the Spanish banking sector, it makes comparisons with other European countries, especially France. Easily one of the best political analyses of the power of private banks in emerging economies. Highly recommended for those interested in understanding the forthcoming European Economic and Monetary Union of 1999.